Cloud9 eSports Team Closes Series A Funding, Investors Include Joe Montana, Alexis Ohanian
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Zachary ‘Sneaky’ Scuderi, Cloud9’s ADC for its ‘League of Legends’ team.
Cloud9, an iconic North American eSports brand, today closed a Series A financing round with investments from a plethora of sports figures and Silicon Valley co-founders. The funding was for an unspecified amount in the millions, according to the LA Times.
Leading the pack is Daniel Fiden of FunPlus Ventures, the massive Chinese social game development company. The full list of investors include: Hunter Pence, San Francisco Giants outfielder; Alexis Ohanian, Reddit co-founder; Joe Montana, San Francisco 49ers Hall of Fame quarterback; Andrew Bogut, former NBA center; Chamath Palihapitiya, Golden State Warriors co-owner; Antonio Gracias, Kimbal Musk, Tesla board directors, as well as investor Bill Lee; Rick Thompson, Signia Venture Partners co-founder; Ken Howery and Brian Singerman, Founders Fund co-founder and partner, respectively; Min Kim and Rob Pardo, Bonfire Studios co-founders; Josh Yguado, Jam City co-founder; Todd Boehly, LA Dodgers co-owner and Eldridge Industries founder; United Talent Agency.
In a statement, Reddit co-founder Alexis Ohanian likely expressed the feeling of many of the investors entering eSports.
“Growing up, I wanted to own an NFL team,” Ohanian said. “Now, the obvious move is to invest in an eSports franchise and I’m thrilled it’s Cloud9.”
Cloud9 was formed by Jack and Paullie Etienne in 2013, with its first big move being the purchase of the newly-promoted League of Legends team, Quantic Gaming for $15,000. Captained by Hai Lam, Cloud9 went on to become one of the consistently best teams in North America, as well as among its most identifiable. The team finished first in two splits of the North American League of Legends Championship Series and are regulars at the game’s premiere international World Championships.
Since then, Cloud9 has ventured into other games, including Dota 2, Overwatch, Call of Duty and Counter-Strike: Global Offensive, the latter of which topped the ESL Pro League Season 4 Finals against perennial powerhouse, SK Gaming. The organization also won “Best Esports Team” at the 2016 Game Awards.
Unlike some of their peers like Team Liquid back in Sept. 2016, the Etienne’s did not sell controlling interest of their brand.
“We’ve formed a fantastic group of investors to help push Cloud9 to the next level,” Jack Etienne said in a statement. “With this investment you can expect Cloud9 to continue our expansion into the eSports market while maintaining an exceptional experience for our players.”
Source: Forbes